BofA raised the firm’s price target on OGE Energy (OGE) to $48 from $46 and keeps a Neutral rating on the shares. The firm continues to believe OGE’s strong track record of execution and significant load growth opportunities justify a premium valuation, which is reasonably reflected in the stock’s current 10% premium to the regulated SMID-cap electric utility peer group. Execution on the $6.25B five-year plan and generation/transmission buildout is top of mind for investors, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OGE: